SC refuses to entertain plea by PMC account holders for lifting restrictions on cash withdrawals

Agencies
October 18, 2019

Pune, Oct 18: The Supreme Court on Friday refused to entertain a plea filed on behalf of scam-hit PMC Bank account holders seeking lifting of restrictions imposed by the Reserve Bank of India on cash withdrawals.

A bench headed by Chief Justice of India Ranjan Gogoi said, "We are not inclined to entertain this petition under article 32 (writ jurisdiction). Petitioner can approach the high court concerned for appropriate relief".

The Punjab & Maharashtra Co-operative Bank has been put under restrictions by the Reserve Bank of India (RBI) following the discovery of a Rs 4,355-crore scam.

Deposit withdrawals have been capped at Rs 40,000 over a six-month period, causing panic and distress among depositors.

During the hearing on Friday, Solicitor General Tushar Mehta said the government is aware of the seriousness of the situation and the Enforcement Directorate is taking appropriate action against the culprit.

Advocate Shashank Sudhi, appearing for petitioner Bejon Kumar Mishra, said he has filed the petition on behalf of 500 PMC Bank account holders seeking lifting of restrictions imposed by the RBI on cash withdrawals.

On Wednesday, around 50 depositories of the PMC Bank staged a protest outside the RBI demanding revoking restrictions on cash withdrawal, currently capped at Rs 40,000 over a six-month period.

A depositor of PMC Bank allegedly committed suicide in Mumbai on Tuesday while another died of a heart attack a few hours after taking part in a protest by bank customers seeking their money back.

The petition filed before the court sought a direction for issuance of "exhaustive and comprehensive guideline" to safeguard the banking and cooperative deposits in the eventuality of emergency financial crisis where citizens are financially stranded by acts of a few "unscrupulous persons".

The plea said the Centre and the RBI should be directed to ensure complete insulation and insurance of the hard-earned deposited money of people in various cooperative banks, including nationalised banks, by enacting an appropriate measure of 100 per cent insurance coverage towards the deposited amount.

It said that a high-powered committee should be constituted to look into complete affairs of working and their operation in all cooperative banks in order to have a robust and transparent mechanism which can inspire confidence of common public in cooperative banks.

Real estate firm HDIL allegedly accounted for 70 per cent of the bank's Rs 9,000 crore advances. According to the Mumbai Police's Economic Offences Wing, HDIL's loans turned non-performing assets, but the bank management hid this from the RBI's scrutiny.

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News Network
April 14,2024

Qatar and Kuwait have banned any use of their airspace and air bases for attacks against Iran amid heightened tensions between Iran and the Israeli regime following an Israeli attack early this month on an Iranian diplomatic mission in Syria.

Reports on Saturday indicated that both Qatar and Kuwait had issued directives to the United States stressing that the US military will not be allowed to use air bases in the two countries for carrying out any potential airstrikes on Iran.

Qatar and Kuwait have also indicated that their airspace will not be available for any military action against Iran.

The US has military aircraft at the Ali Al Salem Air Base and Ahmed Al Jaber Air Base in Kuwait. The Al Udeid Air Base in Qatar is also the largest US air base in the West Asia region.

The directives issued by Iran’s two Arab neighbors come amid reports showing that Iran is preparing to respond to an Israeli airstrike that killed two of its senior military commanders in its consulate in the Syrian capital Damascus on April 1.

Washington has urged Iran to deescalate while saying that it will defend Israel in case it is attacked.

Iran, which has no direct relations with the US, has called on regional Arab countries to advise the US not to interfere if Israel is attacked.

Countries have been wary of a major confrontation in the region more than six months into an Israeli onslaught on the Gaza Strip.

Reports show they have already limited the ability of the US to use their airspace and air bases for attacks on resistance groups that are allied with Iran and have been attacking Israeli and US interests in the region since the start of the Israeli aggression on Gaza.

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News Network
April 9,2024

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More decomposed bodies have been found inside al-Shifa Hospital in Gaza, amid operations to recover bodies of the victims of one of the largest massacres committed by Israel against the Palestinians, Euro-Med Human Rights Monitor says.

The founder and chairman of the group Ramy Abdu said in a series of social media posts that “operations to discover bodies executed by the Israeli army at al-Shifa Hospital continue.”

He published a “shocking” video that showed rescue teams, civil defense, and forensic evidence finding more decomposed bodies.

“It seems we are witnessing one of the largest massacres committed by Israel against the Palestinian people in history.”

Abdu said the video confirmed the Geneva-based rights group’s report on field execution operations carried out by the Israeli forces during their recent attack on al-Shifa.

“Horror: Doctors, nurses, displaced persons, administrators at the hospital, children, women. This is what is revealed after the Israeli army's withdrawal from al-Shifa Hospital. Dozens of people were executed in the field,” he said.

According to his remarks, the Israeli army placed the bodies inside pits it had dug.

On March 18, Israeli forces started a new wave of attacks on Gaza’s main hospital, al-Shifa, and imposed a two-week siege on it. 

On April 1, the Gaza Health Ministry said Israeli forces withdrew tanks and vehicles from al-Shifa, adding that dozens of bodies, some of them decomposed, had been found at the complex after the Israeli pullout, which also left behind a vast swath of destruction.

Israel first raided the hospital in Gaza City last November.

Al-Shifa, Gaza’s largest hospital, has sheltered thousands of Palestinians who fled Israel’s invasion in the northern parts of the territory.

The Israeli military claimed that the Palestinian resistance movement Hamas is using the facility to “conduct and promote terrorist activity.” Hamas has repeatedly denied operating from Shifa and other health facilities.

The chief of the World Health Organization (WHO) has said al-Shifa is no longer functional because of months of Israeli siege and attacks on the facility.

Israel launched the war on Gaza on October 7 after the Palestinian resistance movement Hamas waged the surprise Operation Al-Aqsa Storm against the occupying entity in response to the Israeli regime’s intensified violence against Palestinians.

Since the start of the offensive, the Tel Aviv regime has killed 33,207 Palestinians and injured nearly 75,933 others.

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News Network
April 13,2024

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New Delhi: Seventeen Indians are on board an Israeli-linked container ship that has been seized by the Iranian military amid heightened tensions between Iran and Israel.

Official sources said India is in touch with Iranian authorities through diplomatic channels, both in Tehran and in Delhi, to ensure the welfare and early release of the Indian nationals.

The Iranian action came amid increasing fears that Tehran may launch an attack on Israeli soil in retaliation to a strike on the Iranian consulate in Syria 12 days ago.

"We are aware that a cargo ship 'MSC Aries' has been taken control by Iran. We have learnt that there are 17 Indian nationals onboard," said a source.

"We are in touch with the Iranian authorities through diplomatic channels, both in Tehran and in Delhi, to ensure security, welfare and early release of Indian nationals," it said.

Reports said Iran's Islamic Revolutionary Guards seized MSC Aries on Saturday morning when it was sailing through the Strait of Hormuz.

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